Free Oracle 1Z0-1054-25 Exam Questions

Become Oracle Certified with updated 1Z0-1054-25 exam questions and correct answers

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Total 170 Questions | Updated On: Apr 24, 2025

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Question 1

A subsidiary company is about to configure their General Ledger in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP. Subledgers transferring to General Ledger must use the local currency, and there is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS). Which two ledger types should be configured to fulfill this reporting requirement?

A : Reporting currency with the local accounting convention

B : Reporting currency with the IFRS accounting convention

C : Secondary ledger with the IFRS accounting convention

D : Primary ledger with the IFRS accounting convention

E : Primary ledger with the local accounting convention

Answer: C,E

Question 2

You are reconciling your Payables and Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report. You notice discrepancies between the balances in the subledgers, subledger accounting, and general ledger. Which three factors are responsible for these out-of-balance situations?

A : Period Close processes, such as Revaluation, Translation, and Consolidation have not been performed yet.

B : There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.

C : All subledger transactions have been entered but do not have complete accounting.

D : Intercompany transactions have not been fully processed.

E : Subledger transactions have been accounted and transferred to General Ledger but have not been posted.

Answer: A,D,E

Question 3

You are creating values for the chart of account value set that you are planning to use for the account segmentwithin your Chart of Accounts.You are not able to assign an Account Type. What is the reason for this?

A : The Account Type qualifier has not been enabled when defining the value set.

B : You have not set the Allow Budgeting attribute for the value set.

C : You are creating values before assigning the value set to the structure.

D : You have not set the Allow Posting attribute for the value set.

Answer: A

Question 4

Users with the General Accountant job role have reported that they are unable to access the UK Ledger. They require read/write access to the full ledger. The accounting configuration completed successfully. What should you do to allow access to the ledger?

A : Assign the UK reference set to the user/role combination.

B : Assign the security context value of UK Ledger to the user/role combination.

C : Create a data access set that allows access to the UK Ledger.

D : Assign the General Accounting Manager role to those users.

Answer: C

Question 5

You are reconciling your Payable sand Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report. You notice discrepancies between the balances in the subledgers, subledger accounting, and general ledger. Which three factors are responsible for these out-of-balance situations?

A : Intercompany transactions have not been fully processed.

B : Period Close processes, such as Revaluation, Translation, and Consolidation have not been performed yet.

C : There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.

D : Subledger transactions have been accounted and transferred to General Ledger but have not been posted.

E : All subledger transactions have been entered but do not have complete accounting.

Answer: A,B,D

Page: 1 / 34

Total 170 Questions | Updated On: Apr 24, 2025

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